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Asian Markets Mixed as U.S. Stocks Fall for Third Day

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Asian Markets,U.S. Stocks,S&P 500

Asian markets showed mixed performance on Tuesday, while U.S. stocks continued their downward trend for a third consecutive day. Trading remained closed in Tokyo and Seoul for New Year's holidays. Australia's stock market experienced a decline, while Hong Kong's market saw a slight increase. China's Shanghai Composite Index dipped after manufacturing data indicated that Beijing's stimulus efforts have yet to fully revitalize the economy. U.S. stocks, marked by the S&P 500's 1.1% drop, are still projected to achieve their second consecutive yearly gain of over 20%.

The Afternoon WireBorder arrests are little changed in December, ending Biden's term at lowest levelActor Carey Mulligan and author Kazuo Ishiguro on UK's New Year Honors listValue-seekers drove 2024's retail trends and dead endsNorthern lights could be visible in upper fringes of the US this New Year's EveMusk helped kill a congressional spending bill.

The Dow Jones Industrial Average fell 1% to 42,573.73, and the Nasdaq composite ended 1.2% lower, at 19,486.78. Airlines that fly Boeing jets wavered in the wake of the crash. United Airlines fell 1.4% and Delta Air Lines dropped 0.9%. The Fed cut interest rates three times in 2024, but has signaled a more cautious approach heading into 2025 as inflation shows signs of reheating. The latest report on consumer prices showed that inflation edged slightly higher, to 2.7%, in November.

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